Down Payment FAQ

How to decide the percentage of the down payment?

Down Payment = Total price - 40%/30% of the Floor Price
Collection
LTV
Down Payment
BAYC CryptoPunks
40% of the floor price
60% or more
MAYC Doodles & Space Doodles CloneX Azuki
30% of the floor price
70% or more
If the total price of the NFT is much higher than the collection floor price, the percentage of the down payment will increase.

What's the difference between Down Payment and Buy Now Pay Later?

The Buy with Down Payment on BendDAO is not P2P based which means users can execute the purchase instantly. And there is no payment installments.

What are the details of payment installments?

No payment installment. You take an NFT-backed loan and then become a borrower on BendDAO. You can repay any time you like. There is no fixed time period to pay back the loan. But you do need to keep an eye on the loan health factor to avoid liquidation. As time passes, the accrued interest will grow making the health factor decrease, which might result in more likely to be liquidated.

Which collections are supported with a down payment?

BAYC, CryptoPunks, MAYC, Doodles, Space Doodles, CloneX and Azuki

What will be in my wallet after the down payment?

The boundNFT will be in your wallet since the original NFT is used as collateral.

How can I get my mortgaged NFT back?

You will receive the NFT when you pay off the loan.

Which marketplace is supported?

Currently, BendDAO. More NFT aggregators and marketplaces will come soon.
Copy link
On this page
How to decide the percentage of the down payment?
What's the difference between Down Payment and Buy Now Pay Later?
What are the details of payment installments?
Which collections are supported with a down payment?
What will be in my wallet after the down payment?
How can I get my mortgaged NFT back?
Which marketplace is supported?